This paper empirically analyzes the life insurance demand by applying autoregressive distributed lag (ADL) model. Compared with previous studies, this paper not only eliminates the impacts brought by statistic caliber changing in insurance premium and takes the stationary time series into account when the model is constructed, but also covers a longer sample period. The results show that GDP increase and development of life insurance industry are the main contributors to the growth of life insurance, and the effects produced by society aging, anticipating inflation and education level on life insurance are not significant. Life insurance is also significantly affected by real interest rate and children dependency ratio.